In July 2012, India noted a decline in its exports and imports of rough and polished dimaonds. Exports of polished diamonds dipped in value by 47 percent (on y-o-y basis) to $998 million and volume –wise the said exports dropped 45 percent (on y-o-y basis) to 2.482 million carats, reports say. Imports of polished diamonds decreased by 82 percent, compared to July 2011 to $264.5 million.

India’s net polished exports (valued as the excess of exports over imports), increased 64 percent to $733.5 million in the said month.

The rough diamond trade fared with lows. Import of rough diamonds decreased 36 percent (on y-o-y basis) to $1.202 billion and exports of rough diamonds fell 43 percent to $82.56 million. The net rough imports –(valued as imports less exports), decreased 36 percent to $1.120 billion.

The month delivered a net diamond account worth a deficit of $386 million (July 2011: deficit of $1.296 billion).